Unlock the Power of Online Signature Licitness for Insurance Industry in United States

How to eSign a document: online signature licitness for Insurance Industry in United States

good day everybody uh welcome today I'm going to be just chatting to you about the signing of documents in terms of insurance in sectional title so there are quite a few areas where signing of documents uh pertaining to insurance is important things like your annual record of advice when you're acknowledging and and things like that but there are three areas where it is particularly important um and I'm just going to cover this three areas I'm not going to draw down into the subject matter I'm just going to tell you about them where it's important so first of all know that it's pretty important when it comes to appointing your broker so when you're appointing your broker and you are putting it in writing I always recommend don't leave it to your managing agent to sign that one off make sure that you have two signatures your two trustees uh or one trustee and the management agent in terms of prescri management rule 10 okay so prescribe management rule 10 I'm going to put it up here uh it sets out the way to make any signed document legal in terms of sectional title two signatures one signature of the trusty and uh the managing agent and always supported by a resolution okay there we have it obviously we as Brokers we only look for those two signatures the second area and we think it's important is when you're signing off a claim okay I'm not I you noticed I didn't use the word claim form because in many times you might be doing it via a link uh and of course you can authorize things via links as well um and as long as these documents are getting to the right place but certainly in the traditional claim form um claim form or claim needs to be signed off by two trustees or one trustee and the managing agent to make that important form legal a claim form is a legal claim you're claiming contractually so it's the other part of the contract contract of insurance you're now making your claim legally the body corporate is insured I'm not going to go into that either but in terms of the sectional Titles Act sectional title scheme management act more specifically it's a known fact that the body corporate is the insured party and therefore it needs to be correctly signed let that claim form land up in court uh incorrectly signed we don't want to go there okay so signing off on the claim form prad management rule 10 apply your mind then the second and I say apply your mind because um it's just more important uh when you have an EIC clan that could go legal okay then the third scenario is when you're actually signing off when that claim has gone through and now you have an agreement of loss say the insurance company has elected to pay pay you out in cash and they're going to have you sign an agreement of loss especially if it's an owner section of course let the owner sign but don't let the owner sign alone just make sure that two trustees or one trustee and the managing agent coign uh to make sure uh that that agreement of loss is legal and binding and of course in case there's no comebacks later make sure of course that the money gets paid to the body corporate's bank account as a primary or starting point you can always get paid out elsewhere afterwards but initially make sure that it goes to the body corpit bank account okay so those are the three areas um and again I please ask you uh support us uh like these videos share and subscribe we really love your subscriptions um we want to boost our subscription base uh and of course we don't want to just boost it with anybody we prer uh trustees managing agents and interested parties to be subscribed uh we want to get these messages out to all of the right people and uh yeah look forward to your your further support thanks very much [Music]